Wage
Earner's Development Bond (WEDB)
Probashi Wage Earner Development Bond (WEDB) is a
product designed by Bangladesh Central bank for Bangladeshi national living
abroad. The objective of this product is to encourage the NRBs to invest their
hard earned money to purchase bonds on which the government guarantees a secure
and tax free income with a stable and lucrative interest rate.
Features
and Benefits:
·
This bond can be purchased in the
denomination of BDT 25000, 50000, 100000, 200000, 500000, 1000000, 5000000
·
The purchaser can purchase Bond any
amount in multiples of BDT. 25,000/- without any maximum limit
·
The interest rate is 12 % per annum
payable on half-yearly basis
·
The tenure is five years
·
Tax exemption on the principal
·
Can be used as security for any loan.
·
Death risk benefit up to 40% to 50% of
investment.
·
Auto renewal option available
·
Investors of BDT 80 Million and above
shall be treated as CIPPurchaser of Wage Earner's Development Bond can
repatriate the principal amount of the bond in foreign currency
Eligibility:
·
A Bangladeshi wage-earner serving abroad
-
in his own name ; or
- in the name of any
other person named in his application;
·
Government employees working abroad
Required
Documents:
·
The purchaser must have a FC account
with the Bank
·
The purchaser must have the photocopy of
the relevant pages of the passport where the purchaser's name, date of birth,
date and place of issue; expiry date, photograph and signature appear.
·
Address Proof of the Bond Holder in
abroad.
·
2 Copy of passport size photographs of
the Applicant& 1copy for the Nominee with the signature of the Applicant on
the back.
·
Valid work permit /proof of employment
of the Applicant abroad.
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